Netflix (NASDAQ:NFLX) Given “Outperform” Rating at Evercore ISI

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Evercore ISI reissued their outperform rating on shares of Netflix (NASDAQ:NFLX) in a report published on Wednesday, Briefing.com Automated Import reports. The brokerage currently has a $380.00 price objective on the Internet television network’s stock, up from their previous price objective of $350.00.

Other research analysts also recently issued research reports about the company. Barclays reiterated a buy rating on shares of Netflix in a report on Thursday, May 16th. Oppenheimer set a $119.00 target price on American Express and gave the stock a buy rating in a report on Wednesday, April 17th. Pivotal Research reiterated a buy rating and set a $500.00 target price on shares of Netflix in a report on Tuesday, April 16th. BMO Capital Markets reiterated a buy rating and set a $50.00 target price on shares of Fortis in a report on Tuesday, April 16th. Finally, Wedbush upped their target price on Netflix from $165.00 to $183.00 and gave the stock an underperform rating in a report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $393.24.

NFLX opened at $373.25 on Wednesday. Netflix has a one year low of $231.23 and a one year high of $410.00. The firm’s 50 day simple moving average is $361.38. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market cap of $163.19 billion, a price-to-earnings ratio of 139.27, a price-to-earnings-growth ratio of 3.72 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.19. Netflix had a return on equity of 24.75% and a net margin of 7.61%. The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts anticipate that Netflix will post 3.35 earnings per share for the current fiscal year.

In related news, Director Ann Mather sold 1,208 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $375.00, for a total value of $453,000.00. Following the transaction, the director now directly owns 357 shares of the company’s stock, valued at approximately $133,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 56,966 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $370.74, for a total value of $21,119,574.84. Following the completion of the transaction, the chief executive officer now directly owns 56,966 shares in the company, valued at $21,119,574.84. The disclosure for this sale can be found here. Insiders sold a total of 167,486 shares of company stock worth $60,955,416 over the last ninety days. 4.29% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia lifted its stake in Netflix by 10.1% during the fourth quarter. Commonwealth Bank of Australia now owns 753 shares of the Internet television network’s stock valued at $199,000 after buying an additional 69 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Netflix by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 692,107 shares of the Internet television network’s stock worth $185,212,000 after purchasing an additional 48,349 shares in the last quarter. Magnus Financial Group LLC purchased a new stake in shares of Netflix in the fourth quarter worth approximately $290,000. ARP Americas LP purchased a new stake in shares of Netflix in the fourth quarter worth approximately $799,000. Finally, Captrust Financial Advisors lifted its position in shares of Netflix by 66.8% in the fourth quarter. Captrust Financial Advisors now owns 552 shares of the Internet television network’s stock worth $148,000 after purchasing an additional 221 shares in the last quarter. 77.02% of the stock is currently owned by institutional investors and hedge funds.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

Further Reading: Overbought

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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